This is a growth of 8 per cent compared to sales of Rs 11,400 crore in the first half of 2023, according to India Sotheby's report "International Realty and CRE Matrix".
More than half of the home buyers in the Rs 10 crore plus luxury market belonged to the age category of 35-55 years.
The primary luxury segment recorded sales of Rs 8,752 crore, the second best semi-annual sales value in the last five years.
The secondary or resale market in the financial capital recorded its highest ever sales of over Rs 3,500 crore, growing by 37 per cent in the first half of 2024, the report said.
“Mumbai's luxury real estate market is booming and has reached record sales highs in the first half of fiscal 2024. Its strength underlines a growing demand for high-end luxury real estate, driven by the economic resilience of the India and the growing wealth among the elite,” said Sudershan Sharma, CEO of India Sotheby's International Realty.
The latest “Hurun Global Rich List” highlights a 51 per cent rise in Indian billionaires, with 271 billionaires, most of whom are based in Mumbai.
“Unprecedented infrastructure development in the city has also opened up new markets for luxury housing. We believe the country's growing wealth and aspirations for luxurious living will keep this segment buoyant,” Sharma added.
A total of 1,040 luxury units were sold in Mumbai during the last 12 months, the highest ever recorded in any 12-month period.
The city's top 10 localities contributed 80 per cent of the total value of luxury home sales, with Worli leading the way, accounting for 37 per cent of the total value of luxury home sales.
The 2000 to 4000 sq ft size segment has emerged as the largest contributor.
“Mumbai has witnessed around Rs 7,100 crore in luxury home sales every half-year since 2019,” said Abhishek Kiran Gupta, co-founder and CEO of CRE Matrix.
More than half of the home buyers in the Rs 10 crore plus luxury market belonged to the age category of 35-55 years.
The primary luxury segment recorded sales of Rs 8,752 crore, the second best semi-annual sales value in the last five years.
The secondary or resale market in the financial capital recorded its highest ever sales of over Rs 3,500 crore, growing by 37 per cent in the first half of 2024, the report said.
“Mumbai's luxury real estate market is booming and has reached record sales highs in the first half of fiscal 2024. Its strength underlines a growing demand for high-end luxury real estate, driven by the economic resilience of the India and the growing wealth among the elite,” said Sudershan Sharma, CEO of India Sotheby's International Realty.
The latest “Hurun Global Rich List” highlights a 51 per cent rise in Indian billionaires, with 271 billionaires, most of whom are based in Mumbai.
“Unprecedented infrastructure development in the city has also opened up new markets for luxury housing. We believe the country's growing wealth and aspirations for luxurious living will keep this segment buoyant,” Sharma added.
A total of 1,040 luxury units were sold in Mumbai during the last 12 months, the highest ever recorded in any 12-month period.
The city's top 10 localities contributed 80 per cent of the total value of luxury home sales, with Worli leading the way, accounting for 37 per cent of the total value of luxury home sales.
The 2000 to 4000 sq ft size segment has emerged as the largest contributor.
“Mumbai has witnessed around Rs 7,100 crore in luxury home sales every half-year since 2019,” said Abhishek Kiran Gupta, co-founder and CEO of CRE Matrix.
